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tax bill as the so-called fiscal cliff of automatic spending cuts and tax hikes comes ever closer. >> his proposal, known as plan b, was shot down by republicans who refuse to support any tax increases. the plan would have raised taxes on income over $1 million. he says it is now up to president barack obama to come up with a solution. >> what could that mean for ordinary americans? our reporter went to find out. >> store manager jennifer thomas sells trendy designer fashions at her boutique in the u.s. capitol, washington, d.c. it is a tough business. competition is fierce, and it could get worse if the u.s. were to slip over the fiscal cliff. automatic tax hikes across the board would mean less disposable income for american consumers. >> i think our biggest concerns here are we will not be seeing people purchase as many items as they have in the past. we will see people buy jeans and a top, but they will not buy an additional pair of jeans or a dress on top of that. >> many customers are already pinching pennies. >> it has put a lower ceiling than normal on what we can spend fo
secretary of state. >> thank you. we appreciate temperature >> we talked a lot about the fiscal cliff. the government spends more than 11 billion every day . you will be shock to see what they spend most of that on. it is a new series called the cost of spending next this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white ristmas [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am on the naughty list again? ho ho ho! a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflamm
should start reining in the spending. when we talk about the fiscal cliff, there are actually two fiscal clefs -- cliff. there are the sequester cuts that are automatic. the attitude has shifted in the last month. most republicans have come to the conclusion that those spending cuts, the sequester, is maybe the only way to get the cuts. the presence seems not to be negotiation -- negotiating on the other cuts. we have not cut government spending in washington for 20 years. host: next up is valerie on our line for democrats. caller: i think we should go off of the cliff. i did not see anything wrong with the clinton years. he was a popular president. people would reelect him if they could. as far as the tea party is concerned, i would not vote for anybody who has anything to do with the tea party. host: why is that? what is it you do not like about the tea party? caller: the tea party is ruining this country. guest: i often hear that attitude. i do not like the tea party. i asked people, what is it you do not like about it? in today's wall street journal, i have an interview with a newly
government spending cuts are set to kick in after january first. as the fiscal cliff countdown continues. house and senate members and president obama. have all recessed for the christmas holiday. >> the ninth circut court of appeals today blocked a california law which bans the controversial therapy. that aims to turn gay minors. straight. the three judge panel issued an emergency order, to put the law on hold until the court can hear further arguments. the law. which governor jerry brown signed in september, was set to take effect january first. it would make mental health professionals who engage in efforts to change a clients' sexual orientation. subject to discipline by state licensing boards. >> jacqueline: there rainfall continues with the center showers and more for the rest of the week. your complete forecast, coming up. >> coming up the warriors hosting the bobcats and will a justin smith miss his first game in 11 years? sports, coming up. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sun
cliff of tax increases and spending cuts. still, congress has gone home for the holidays, and today president obama and his family arrived in honolulu, where they'll celebrate christmas. the president says he is ready to return to make a deal. retailers called today "super saturday." it is traditionally one of the busiest shopping days of the year. businesses are banking on it because so far this season sales numbers have not been as stroongz many had hoped to see. here's michelle miller. >> reporter: kidding around isa a specialty toy store in new york city. you won't find any of this stuff at target, wal-mart? >> no. >> reporter: the owner says today is his busiest day of the year. within the last month, what have your sales been? >> they're up from last year about 5.5% but some of that is the influence of the early hanukkah. >> reporter: he's doing better than most retailers. shopper track, which monitors consumer behavior nationwide, predicted holiday sales growth of 3.3%. they just cut it to 2.5%. >> the traffic growth has been solid but people are still very tight with their p
predicted california's unemphroeupl rate would remain in double digits through 2013. the fiscal cliff, mixed with lower unemployment and adding the mood with shoppers is leaving experts baffled by the direction of the economy. our consumer editor explains how the coming days could be critical. >>> consumer spending ins just released for november shows spending at a 3-year high. that was last month. last month, business investment in long-lasting machinery jumped more than expected. employment is up in all but five states. but, today's critical consumer confidence numbers are at a 5- month low. todays stock market closed down triple digits. >> people don't like uncertainty. there is a possibility of something happening. you don't want to hang your hat on what happens in washington. >> the prospect of huge tax increases and spending cuts is clearly raising the amount of uncertainty and the amount of risk that is in the economy. >> i think they will settle it. but i think the taxes are still going to go up. >> reporter: for the overall economy the shopping days are ahead of us including three
the fiscal cliff. we passed a bill replacing the president's sequestered with irresponsible spending cuts. we did that last may. we passed a bill to stop all the tax hikes on the american people scheduled to take effect january 1, and we did that august 1. and we proposed plans over and over again that democrats used to support but now will not. i do not want taxes to go up, republican do not want texas to go up. but we only when the house. democrats continued to run washington. what the president has proposed so far simply will not do anything to solve our spending problems. he wants more spending and more tax hikes that will hurt our economy. and he simply will not deal honestly with entitlement reform and the big issues facing our country. we need significant spending cuts and real tax reform to address our long-term debt problem and pave the way for long-term growth and real growth in jobs in our country. we will continue to work with colleagues in the house and senate on a plan that protect families and small businesses from the fiscal cliff. >> i think we saw last night yet again the ne
the fiscal cliff with just nine days to go before the deadline. negotiations over averting the automatic massive spending cuts and tax hikes seems to have fallen apart and it's not like the nation's capitol is burning the midnight oil. both president obama and lawmakers have packed up for the christmas holidays. any way out of deadlock or is about country about to plunge over the fiscal cliff. joining us is susan goodrich. leaders on both sides are being criticized for dysfunction. president obama for being uninvolved and detached in the negotiations and speaker boehner for losing control of his own party. is that a recipe for failure? >> no one can question right now that people aren't doing anything. the president has left, he is hawaii. the house is out of session. the senate is adjourned. they are going to coming back on the 27th. that gives them five days. they have been talking about this fiscal cliff for months. last five days and they have to involves more than a trillion dollars and billions of dollars in tax hikes. how can they get it done? they won't. president on friday gave
on what people earn. why is chained cpi so vital to the fiscal cliff negotiation? it isn't a spending cut or a tax hike, but it would foifly cut spending and raise taxes on some, saving the government an estimated $300 billion over the next decade. but the problem is that what that means is that senior, the longer they live, the less money they would actually take home. they would see a cut to their benefits. >> this was a concession from the democrats or was it just an accounting fix? >> it is both of those things. some democrats i spoke to said, look, maybe i would consider this, but only if we could have some sort of amerimechanism tha senior past age 85 would be facing a 6% or 8% cut in benefits, maybe there would be an adjustment to make sure especially for people who are very poor that there'd be some sort of safety net. you know, paul krugerman has said this is a horrible idea, terrible, stupid idea, and this is not something the white house should consider. >> let's bring back the rest of the panel. mohamed el-erian, ceo of pimco. mark zandi with moody's. mohamed, when you say we'
that no deal has been made to avoid the fiscal cliff. coming up, the president's message to congress today in hopes of avoiding tax hikes and spending cuts. >>> different solution to gun violence. what this man says it is time to do about guns and his push to make it happen. >> a foot of new snow [ bells ] >>> the names of each victim killed in the connecticut school shooting at sandy hook elementary school in newton, connecticut were read today. mourners observed a moment of silence to mark one week. many gathered in the rain outside the school to pay respects. >>> the head of the national rifle association layed out a plan to stop the killings. ktvu's eric rasmussen found one man who is leading a different fight to treat gun violence as a public health epidemic. >> reporter: he is one of hundreds of petitions that sprung up since the tragedy at sandy hook elementary school. >> reporter: as the national rifle association took the podium in washington. >> the only thing that stop as bad guy with a gun is a good guy with a gun. >> reporter: he was pushing a different solution. >> there are
to the ongoing negotiations to prevent the so- called fiscal cliff we have mentioned. there are just 10 days to go until this potentially damaging combination of tax increases and spending cuts goes into effect, but so far, the politicians seem no closer to averting the plunge. president obama is pressing for action. he had this to say just a few minutes ago. >> i just spoke to speaker boehner and i also met with senator reid. i have asked the leaders of congress to prevent tax hikes on middle-class americans, protect unemployment insurance for 2 million americans, and lay the groundwork for further work. that is an achievable goal. that can get down in 10 days. >> president obama there on the upcoming fiscal cliff. joining me now to discuss the standoff is the bbc's ben wright. thank you very much. was there anything in the president's speech that would give us any cause for optimism that is the cliff can beat averted? >> i thought his tone was interesting. he was optimistic an exasperated at the same time. he reminded people in congress they only have 10 days left to find a deal before the
a deal on the looming "fiscal cliff" so that means there are now just 10 days remaining until the automatic tax hikes and spending cuts kick in january 1. disagreements over how much to raise the taxes and cut spending continued to separate democrats and republicans. president obama called on house speaker john boehner to come back to the negotiating table and avoid the "fiscal cliff." >> as of today, i am still ready and willing to get a comprehensive package done. >> the remarks came after speaker boehner failed to gather enough of his party's support to bring his so-called plan b to the floor for a vote. his proposal would have effectively raised taxes only on those americans making more than a million dollars a year. house and senate members will be back at the capital on december 27th looking for that solution. >>> wall street worried about the "fiscal cliff" talks, stocks closed sharply lower today. the dow dropped more than 120 points. the nasdaq fell 29 points. the s&p dropped, as well. >>> california cannot stop people from using the so-called conversion therapy to tr
government spending cuts are set to trigger after january first. as the fiscal cliff countdown continues. house and senate members have already recessed for the holidays. >> president obama will nominate senator john kerry as the next secretary of state. he made the announcement at the white house today. current secretary of state hillary clinton is stepping down in january.u-n ambassador susan rice was reportedly on the short list, but took herself off it, citing a "lengthy, disruptive, and costly" confirmation process after republicans took issue with her remarks on the deadly benghazi attack killed 4 americans in libya. >> and after the president's busy day. he and the first family are now heading for hawaii. the president, first lady and their two daughters boarded air force one at joint base andrews in maryland earlier tonight. mr. obama plans to return to washington after christmas to continue working on a deal to avert the fiscal cliff. >> a blizzard is pounding the upper midwest, causing havoc on the roads and leaving thousands of residents without electricity. the national weath
.4% of a percent as consumers shrugged off worries about the fiscal cliff and went shopping. as investors sold stocks, they bought up safe-havens like treasuries and gold. that pushed down the yield on the ten-year treasury to 1.77% yields move in the opposite direction of treasury prices. meanwhile, gold was shining up over $14 to $1,660 an ounce. there were some deals getting done today. first up, general electric. it's buying the aeronautics unit of italian engine maker avio. the price tag: $4 billion. g.e. shares fell slightly on the deal, down 17-cents to $20.88. also today, a deal in the casino space: pinnacle entertainment is buying ameri-star casinos for $869 million in cash that works out to about $26.50 a share. shares of pinnacle and ameristar were each up over 20%. the day's big loser: research in motion. rimm shares tumbled nearly 23% to under $11. investors initially cheered its latest results out last night, but the selling kicked in today, after rimm's c.e.o. said the company's service-revenue model will change significantly next year. the service fees r.i.m. charges customers
of time thinking about the fiscal cliff or even the 2012 election but we will remember the moments we shared with our family and our friends during the holidays. those memories and the chance to create new ones make this time of year different from any other. more than 2,000 years ago a child was born in a lowly manger who saved a people and changed a world. may you see miracles big and small next week and in the new year. and that is it for us tonight. thanks for watching. i'm in for bill o'reilly. please remember the is spin it stops right here because we are always looking out for you. captioned by closed captioning services, inc. >> sean: marry christmas and welcome to this hannity holiday special. in a few minutes we will take you to afghanistan for an exclusive look at how our troops stay connected to families back home during the holidays. and we will also hear a timeless message from president ronald reagan recorded 32 years ago but still just as meaningful tonight. first, pastor rick wa warren hs book the purpose driven life has been read by more than 60 million people worldw
more money, and these times of the fiscal cliff. >> if that idea was implemented, we aring looking at 5 billion dollars and katharine, don't they agree on one thing, the president and the right and the left is and that is the issue was brought up yesterday, and that has to do with violence as a part of the culture of the united states and how to combat that, do they agree on that foundation? >> they do, it's a cultural issue and it's not an issue for national legislation and if we want to take baby steps toward improving the safety of children in the country, we would be better off talking about vaccine rates first. >> these assault weapons are good for one thing and bun th-- thing and one thing only and that is killing people. people who want to own the guns are have serious issues themselves and so they have to be checked out. >> well and good that the original piece of legislation fell to the wayside the question is whether the 113th will have the appetite? >> what are we talking about? >> assault guns and the banning of them. >> sure, that law lapsed in 2004. you know, diane fineste
each on fiscal cliff negotiations, which are stalled, as washington shut down for a holiday. mr. obama expects to return to work right after christmas. before heading to hawaii. he warned it's time for party leaders to take action. karen caifa reports from washington, where members of congress have also left town. >> the next few days i have asked leaders of congress to help work out a package. this will protect unemployment for millions of americans. >> remarks came after john boehner failed to muster up -- >> we had a number of our members who just did not want to be perceived as raising taxes. >> the two sides both left for christmas holiday and they blamed each other for not acting. they stated that more action is needed from the gop. >> we will need to have a bipartisan solution. >> the next move will need to call from the present. >> he is the only one who could door. this is not john boehners problem to solve. >> in washington, i am karen caifa. >> and now to connecticut were new details are emerging about sandy hooke elementary school gunmen adam lanza. for those who know him s
, now, to the fiscal cliff getting closer. just ten days until everybody's taxes go up and spending cuts kick in. and washington's a ghost town with no deal in sight. talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. abc's david kerley has the latest from the white house. david, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. but it doesn't seem to be happening right now. >> reporter: the president in that same message, gave up on the big deal for right now. he wants a stop-gap measure to keep taxes from going up. and a framework for a deal next year. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between parties, in terms of who looks good and who doesn't. there are
with the fiscal cliff. what we're seeing is that consumers really don't have a sense of trust that they're safe. they're wondering about the future ramp consumer spending numbers just released for november shows spending at a three year high. but that was last month. today's critical consumer confidence numbers are at a five month low. and today the stock market closed down triple digits. >> people don't like uncertainties. there's a possibility of something happening. you don't like to hang your hat on what happens in washington. >> the prospect of huge tax increases plus some spending cults is clearly raise the amount of uncertainty and the amount of risk that's in the economy. >> i think they'll settle it, but i still think the taxes are going to go up. >> reporter: despite all that is at risk the president and the congress are on vacation. consumer editor, tom vacar, ktvu channel 2 news. >> california's unemployment rate ticked down to 9.8%. that's the first time the rate has fallen under 10% since 2009. there wasn't an actual increase in payroll job. labor lawyer and former director says i
>>> the reason congress is trying to spend most of its time averting the fiscal cliff. like an agriculture bill, a dairy subsidy expires january first, and could double if they don't pass the bill. agriculture secretary talks about the milk cliff with candy crowley. the "the situation room" with wolf blitzer begins right now. >> this is a special edition of "the situation room." >> it has now been more than a week since we learned the devastating news of the massacre at the sandy hook elementary school in newtown, connecticut. today, we'll remember the victims. we'll also go in depth on where the investigation stands, and talk with dr. sanjay gupta and drew pinsky, about what medical science has learned about the mind of a killer. we'll also look ahead of where do we go from here? especially when it comes to the right to bear arms in the united states, and what president obama called the nation's epidemic of gun violence. we want to welcome our viewers in the united states and around the world. i'm wolf blitzer. we begin our special edition of "the situation room" by focusin
cliff can affect the economy, one is through tax increases and another is through spending cuts. and people get those. and the third is through financial markets. and that is one if they go off and it does seem there is not a resolution around the corner, that is one that will happen most quickly and be the most devastating as the financial markets will mediate the new expectations that washington may throw us into recession. and businesses that were looking for credit in order to expand won't be able to get it. and so hiring decisions that we're going to be made, we expect to be coming in 2013, those hires won't happen, layoffs will happen. so the expectations of economic act that is coming through markets and credits can do it for them. >> it is hard to see as we sit here today what happens next thursday to make this anymore urgent. because normally, ezra, as we know in these situations there is a certain amount of public pressure. there is a certain sensation that you get back from constituents. it is christmas, christmas eve, and constituents are not exactly going to be knoc
to the fiscal cliff. the combination of tax hikes and across the board spending cuts that no one wants to have happen. the president seems to be sticking with his plan and congress seems to be in disarray. time is running out. the time is january 1st just ten days away. nancy cordes has the latest on the negotiations. >> reporter: shortly before he left for hawaii president obama urged congressional leaders to address a smaller plan to avert the fiscal cliff because his talk with speaker boehner on a smaller deal have stalled. >> i met them halfway on taxes, and i met them more than halfway on spending. >> reporter: that was not speaker boehner's take earlier in the day. >> what the president has proposed so far simply won't do anything to solve our spending problem. he wants more spending and more tax hikes that will hurt our economy. >> reporter: but boehner's position was weakened after he tried but failed to pass his own plan in the house. >> as you know the house did not take up the tax bill last night because we didn't have the votes to pass it. it's not the
for a bipartisan agreement to prevent going over the fiscal cliff. >> the american people are a lot more sensible and a lot more that you feel and much more willing to compromise and give and sacrifice and act responsibly than their elected representatives are. >> when congress resumes, there will be just four days to come up with an agreement. >>> the oakland school district is facing allegations of mishandling federal money. it's being told to pay back thousands of dollars. an audit was conducted after a cbs 5 investigation questioned how a private school was getting federal money. how the district is defending its actions. >> reporter: for years, this private religious school has received thousands of dollars in federal funds, $50,000 just this year doled out by the oakland unified school district. it's the school that sends its students out to bart stations to solicit money, sometimes late into the night. tonight they left after we approached them. >> get out of my face. >> reporter: a joint cbs 5 california watch investigation earlier this year questioned the district's lack of oversight, a
people, most of them children. and markets tanked today over the stalemate over the fiscal cliff. the president saying congressional leaders can reach a deal. is he optimistic before automatic spending cuts and tax hikes kick in on new year's day. the president now on his way with his family to hawaii for christmas. and the pharmacy linked to the deadly meningitis outbreak reports it has filed for bankruptcy. that new england compounding center as it's called shut down after shipping tainted steroid shots that have killed at least 39 people across the country and infected hundreds more. on this day in 1937, walt disney premiered snow white and the seven dwarfs. many critics had doubted audiences would want to watch 83 minutes of a cartoon. for that, it was considered a major financial gamble. it cost an astounding $1.5 million toak
the military survive the spending cuts as they stand the fiscal cliff? >> if the fiscal cliff goes into -- goes into effect as of january -- initial january 2, it will be in effect. if that goes into effect on that day there will be serious cuts that will be mandated and affect the national security and it is -- exactly the wrong thing to be doing. as i indicated before, there are cuts that can be made in the defense budget. they have to be managed properly and not simply across board-type of arbitrary slashing of that budget. i think that will endanger our security and we can make further cuts. it has to be done prudently and with discussion and wisdom. i don't think that's the congress should take or wants to take. unfortunately, there aren't enough people up there willing to back away and do the right thing under the circumstances. yes, it will be a hardship and one this country should not have to endure. >> all right. thank you, mr. secretary. great to see and you appreciate your time. >>> caution may be the buzz word for lots of folks doing their holiday shopping. costing a mint. makers ar
toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really startingo recover and starting to see optimistic signs and we have seen actually some upside to from a wole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: presdent obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still faceis share of heat for washington this function to may point republicans are hammering. >> the u.s. economy is estate here. mil
you. >> nice to see you. >>> ireporters have been weighing in on the fiscal cliff. one of them is telling lawmakers to get real. >> have no rules because they are not spending their own money. they keep spending it and spending money with no regards to ever getting the united states out of debt. you're spending our money like drunken sailors with no regard to the future of america. my message to president obama and each member of congress is very, very simple. quit spending the money that america does not have. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. >>> welcome back. we've been focusing this morning on the calls for gun control in the wake of the shooting in newtown, connecticut. president obama wants action, whi
from the country going over the so-called fiscal cliff, automatic tax increases on nearly every american and huge spending cuts to defense and social programs are set to take effect the 1st of january unless the president and congress reach a new budget deal. but most lawmakers have deserted the capital to be home for christmas leaving america teetering on the brink. one of those enjoying christmas back if california is republican congressman tom mcclintock joining us from sacramento, california. you are a tea partier. you're part of the tea party caucus but you supported house speaker bane area plan b. yes? >>, of course, i did. again, there is no bill before the congress that proposes raising taxes on millionaires or anybody else for that matter. there is a law that goes into effect in ten days that raises taxes on millionaires, small businesses filing as millionaires and everybody else. boehner's bill tried to stop that for everybody else. offa lifeguard sees ten swimmers drowning off of his beach and can only reach nine of them to save them, it doesn't mean that he's drowned
-called fiscal cliff, saying it's now up to the president and democratically controlled nate senate to come up with a solution. >> what the president has offered so far simply won't do anything to solve our spending problems and our nation's crippling debt. instead he wants more spending and tax hikes that will hurt our economy and reduces the challenges of his party to deal honestly with the entitlement reform and the big issues that are facing our nation. that's why we find ourselves here today. >> jamie: there's just nine days left. can the lawmakers work out a deal before it's too late? angela mcglowan is a fox news analyst and michael meehan ceo of ben square communications, and advisor to senator john kerry, quite a week for him. angela, before i talk to you, is whether or not a deal could happen before it's too late, is that question moot? >> no, it isn't, jamie. a deal can happen and i believe that a deal will happen. i'm going to make a statement that president obama made about being optimistic. i'm optimistic that they can cut a deal for what they need to stop doing is this political
leaders would now have to take the lead in finding a resolution to avert the fiscal cliff. >> how we get there god only knows. >> reporter: mr. speaker, it sounds like you're walking away from talks with the president. >> no, no, no. no, listen, i do not say that. nobody ought to read anything into this. we've got differences but the problem -- the country's got big spending problems and we've got to get serious added a dressing them. >> reporter: but this isn't the first time that something like this has happened in talks with the president. why should he have faith that when you negotiate with him that your members are behind him. >> listen, the president knows i've always been able to deliver on any promise i've made with him. >> reporter: it might sound like the smaller less ambitious package that the president is proposing tonight would be easier for the speaker to pass but it actuality might be more difficult for him to get republicans on board if it doesn't include that huge package of spending cuts that he had been discussing with the president and it almost certainly will set th
: even as uncertainty over the fiscal cliff is on the minds of some shoppers. >> it's sort of scary. it's concerning. >> reporter: a poll out this week of 1500 americans showed that 17% are planning to spend less due to money concerns. still, retail analysts say holiday sales are ontrack to rise 4.1% to $586 billion the most optimistic forecast since the recession. >> if we recall black friday did about 11.2 billion dollars in sales. but they had very strong results compared to last year. retailers are hoping that the consumers will come back and deliver those same strong results during this last weekend of the year. >> last-minute shoppers playing the waiting game are in good company. >> i haven't started yet. >> a poll released this week by "consumer reports" found 132 million people hadn't finished their holiday shopping. 26 million had yet to start. 17 million said they planned to be shopping on christmas eve. >> i work better under pressure than if i take a lot of time. >> reporter: retailers are meeting that demand by offering more discounts and more time to shop. toys r' us, macy
is done its part to avert the fiscal cliff. we have passed legislation that would replace the sequester with responsible spending cuts. he also passed a bill to stop all of the january 1 tax cuts. -- we also passed a bill to stop all of the generally when tax cuts. the american people reelected president obama on election date. the also elected the republican majority in the house. they gave us a mandate not to raise taxes on families and small businesses, but a mandate to work together to solve the massive debt that threatens our country's future. unfortunately the president and senate democrats have vowed to reject indeed all of our proposals while failing to offer responsible solutions of their own. what the president has offered so far will not do anything to solve our spending problem and begin to adjust our nation's crippling debt. instead he wants more spending and tax hikes that will hurt our economy. he refuses to challenge the members of his party to deal honestly with entitlement reform and the big issues that are facing our nation. that is why we find ourselves here today. i
republicans in congress as the fiscal cliff looms. so what happens next? moments away. >> continuing now with top story this evening. today corporal john hammarar found out he is going to be spending christmas with his family rather of course alone in a mexican prison. hammar's family is from florida. several members of the florida congressional delegates including senators bill nelson and marco rubio helped lead the fight to free the marine. but perhaps the most vocal of all of them was congresswoman ill anna ross layton who joins us now from miami with the inside story of how this all went down. congresswoman roth layton, it's so good to see you. >> thank you, laura. >> laura: beaten up in congress. approval rating is down. but now we see congress actually gets rules with the help of the factor of course and all of fox news. go ahead. tell us what happened. how did this all go down? >> well, absolutely fox news and o'reilly factor you guys saved his layoff. i mean literally, remember that as you said in the top of the program the parents tried to do it it the old fashioned way. john ha
? >> they're concerned with the fiscal cliff because the majority of americans pay taxes based on their individual income tax rates and they do want compromise. a majority of this segment, they make the household income under $250,000 mark that the pretty has put forth. what infuriates them is they have to make tough decisions every day and they can't understand why the policy makers can't make tough decisions to help move the economy forward and create certainty for businesses so things can continue to improve. >> you know, bill, what is your advise if you have any for small business owners going into 2013? is it invest in your company, this is the time to expand, or is it, hey, hunker down and save your cash? >> the fact that only three of the small businesses are going to be affected by the higher tax rates is really kind of misleading. if you look at it, they earn enough money, $250,000 or more to be affected by this tax hike and it is the small business sector of the economy that's really going to continue to push ahead. the headwinds are big but we'll grow the economy and
. >> reporter: it feels like it, the president is in hawaii and congress is out of town and the fiscal cliff negotiations are on hold for the holidays with no agreement in sight. john boehner is throwing the ball in the democrats' court saying the debt is too high, spending out of control and taxes should not go up. in the g.o.p.'s weekly address, he accused the president and the democrats of refusing to accept a reasonable compromise. >> the best way to address our crippling debt is to make significant spending cuts and fix our tax code. to pave the way for long term growth and opportunity. this is an approach most americans support and remains republicans' highest priority. but we only run the house. democrats continue to run washington. >> reporter: the president left town for his traditional christmas in hawaii and he and his family arriving there this morning and he has gotten in a round of golf already. before leaving the white house, he stayed back hayes spe-- scal back his expectations, and he said it is time for compromise. >> president barack obama: we move forward together sore we
reached to avert sought called fiscal cliff, he would be coming back to washington after christmas. >> so where did that leave things terms of the fiscal cliff? here's l jonathan karl. >> congress not a creature is stirring. no deal is in sight. with deadline looming and seemingly no hope anywhere, the president made one last appeal tonight before washington goes on vacation. >> as we leave town for a few days to be with our families, through the holidays, everybody can cool off. everybody can tl drink some egg nog. now is not the time for more self inflicted wounds. certainly not those coming from washington. >>reporter: but the 2 sides don't even seem to be trying any more. what are we going to do now. >> i'm interested in solving the major problems that face our country. and that means house leaders senate leaders and the president are going to continue to have to work together to address those concerns. >>reporter: speaker boehner says the only way out is a deal that cuts spending and reforms the tax code but even he seemed to suggest that is virtually impossible now. >> how w
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